Deutsche Bank

[uk contractor]

As discussed earlier they let go a lot of staff go. 2800 already with another 1400 due before EOY although its unknown how many in the UK. Most likely some of those are contractors.
Deutsche profits slump 45% as investment bank misfires again - Financial News

[darmstadt]

Although they're taking contractors on here, keep getting calls for various roles but have to turn them down. Maybe it's them building up their FFM base due to something that happened recently in the UK...

[uk contractor]

Looks like the end is coming now feel sorry for all the workers affected & their families Its very hard to secure another highly paid job in this market
Deutsche Bank to axe 18,000 jobs | Daily Mail Online

[Bluenose]

Good news for uk contractors then if they’re focusing on europe?

If you like working for half your normal rate because you are being triple sub-contracted. i.e. Senior Programme Manager on £325 pd.

In the heyday 2000-2011(ish) lots of highly paid IT people went into this place contractor and perm.

Product manager roles/CTO roles £200k+ packages, £1,400 a day BA roles in equities front desk, the lot.

They hired, they fired, they did not govern the place properly, too much politics and a toxic environment.

I know much more than this because of my proximity to people who work there and have worked there for over 15 years.

It is a total basket case, the only way to fix it is to :

a)Format c: /u /q
b)Delpart
c)Diskpart
d)Setup.exe.

Do i feel sorry for the people let go? not really no, it is a stain on the city of london and it is a timely kick in the gonads for the awful sub-industry that is investment banking.

[uk contractor]

Deutsche Bank staff sent home as 18,000 job cuts begin - business live | Business | The Guardian
Contractors being sent home from the London office now apparently.

[northernladuk]

Deutsche Bank staff sent home as 18,000 job cuts begin - business live | Business | The Guardian
Contractors being sent back to their offices from the London office now apparently.

FTFY

[SussexSeagull]

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.

[cloudy]

If you like working for half your normal rate because you are being triple sub-contracted. i.e. Senior Programme Manager on £325 pd.

In the heyday 2000-2011(ish) lots of highly paid IT people went into this place contractor and perm.

Product manager roles/CTO roles £200k+ packages, £1,400 a day BA roles in equities front desk, the lot.

They hired, they fired, they did not govern the place properly, too much politics and a toxic environment.

I know much more than this because of my proximity to people who work there and have worked there for over 15 years.

It is a total basket case, the only way to fix it is to :

a)Format c: /u /q
b)Delpart
c)Diskpart
d)Setup.exe.

Do i feel sorry for the people let go? not really no, it is a stain on the city of london and it is a timely kick in the gonads for the awful sub-industry that is investment banking.

True about the toxic environment. It went from being a reasonable place to work to a practice-run for Game of Thrones (season 1).

Oh, and using Microsoft "shell" would only make things worse .

[GhostofTarbera]

Deutsche Bank

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.

One of my (contractor £750 a day) mates just phoned to ask me if I could go boozing as he has been asked to leave DB immediately and they would pay 6 weeks notice money !!!

Heartbreaking as I’m working today !!!




Sent from my iPhone using Contractor UK Forum

[uk contractor]

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.

Its tough but also to be fair they have been propped up since 2008 by Germany & Merkel using the EU as a slush fund to support German big business. They should have collapsed then but only Merkel & others kept them going to avoid further disruption to the financial services sector.